Refer to the financial statements for Under Armour reproduced in the chapter and answer the following questions. 1. What was the company’s net income for 2011? 2. State Under Armour’s financial...

Refer to the financial statements for Under Armour reproduced in the chapter and answer the following questions.

1. What was the company’s net income for 2011?

2. State Under Armour’s financial position on December 31, 2011, in terms of the accounting equation.

3. By what amount did Property and equipment, net, increase during 2011? Explain what would cause an increase in this item.